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MACROECONOMIC MARKETS: Three sets of markets that make up the macroeconomy--product, financial, and resource--which exchange the three primary types of macroeconomic commodities--gross production, legal claims, and factor services. The four macroeconomic sectors--household, business, government, and foreign--interact through these three sets of markets. The primary objective of macroeconomic theories is to explain activity that takes place in these three sets of markets.
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STAR TREK SCARCITY A science-fiction phenomenon that emerged in the second half of the 20th century, which not only entertained millions of fans worldwide for decades, but also can be used to illustrate important economic concepts such as scarcity.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for high interest rates.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Everyone is bound to bear patiently the results of his own example. " -- Phaedrus, Philosopher
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E
Employment
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